The U.S. Commodity Futures Trading Commission is undergoing a transformation with the new Trump administration while staying on course with its statutory mission of protecting US commodities and derivatives markets. Some of CFTC’s priorities under new Republican Administration will certainly change as articulated by the new Congress, several executive orders from the White House, and … Continue Reading
This post was written by Efrem M. Grail, Elizabeth S. Fenton, and Andrew P. Cross. Public outcry, political pressure and new regulations enacted pursuant to the Dodd-Frank legislation have empowered the Commodity Futures Trading Commission to step up its investigative and enforcement efforts. Commodities traders, derivatives brokers, and energy professionals beware; your regulators are ready … Continue Reading
Last week, the House of Representatives and the Senate each voted to pass the Budget Control Act of 2011 (“Act”) raising the nation’s debt limit and averting the real threat of a default on our debt obligations. President Barack Obama promptly signed it into law the same day, narrowly averting default (Public Law 112-35). However, … Continue Reading
In January 2010, the Securities and Exchange Commission (“SEC”) announced a new cooperation initiative intended to encourage and incentivize individuals and companies to cooperate with and assist the SEC in its investigations and enforcement actions. That initiative, which was characterized as a “potential game-changer” for the SEC’s Enforcement Division by its new director, Robert Khuzami, … Continue Reading
This post was written by James A. Rolfes. The Second Circuit Court of Appeals recently ruled that a corporation could not indemnify its CEO or CFO against liability arising under Sarbanes Oxley Act Section 304. The so-called Section 304 “clawback” provision requires a public company’s CEO and CFO to return bonuses, other equity-based incentive compensation … Continue Reading